Stablepoint Partners LLC Sells 241 Shares of Meta Platforms, Inc. (NASDAQ:META)

Stablepoint Partners LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.2% in the 4th quarter, Holdings Channel reports. The firm owned 10,559 shares of the social networking company’s stock after selling 241 shares during the period. Meta Platforms accounts for about 1.1% of Stablepoint Partners LLC’s holdings, making the stock its 21st largest position. Stablepoint Partners LLC’s holdings in Meta Platforms were worth $6,182,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. JDM Financial Group LLC acquired a new stake in Meta Platforms in the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms in the third quarter valued at about $36,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the fourth quarter valued at about $41,000. Halpern Financial Inc. bought a new stake in shares of Meta Platforms during the third quarter worth about $46,000. Finally, West Financial Advisors LLC acquired a new position in shares of Meta Platforms in the third quarter valued at approximately $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $676.49 on Thursday. Meta Platforms, Inc. has a twelve month low of $387.10 and a twelve month high of $682.58. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.71 trillion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The company’s 50 day moving average is $608.52 and its 200 day moving average is $563.58.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. During the same period in the previous year, the firm posted $5.33 earnings per share. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.30%. The ex-dividend date was Monday, December 16th. Meta Platforms’s payout ratio is currently 9.42%.

Insider Activity at Meta Platforms

In related news, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $567.58, for a total transaction of $234,410.54. Following the transaction, the chief operating officer now directly owns 10,294 shares in the company, valued at approximately $5,842,668.52. The trade was a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 661,312 shares of company stock worth $407,377,422 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Robert W. Baird raised their target price on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Barclays upped their price target on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Scotiabank lowered their price objective on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research report on Thursday, October 31st. Finally, Pivotal Research upped their target price on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $655.41.

Check Out Our Latest Research Report on Meta Platforms

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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